Debbie Ross has the same chance of snagging an affordable apartment in Toronto as she does picking a long-shot at the Kentucky Derby. Ross is hoping to win one of 75 rental apartments in a lottery run by the city’s public housing agency. ( Graeme Roy / THE CANADIAN PRESS file photo )Long priced out of home ownership, Ross is now being squeezed out of the rental market as the country’s biggest population boom since 1957 sends prices surging in Canada’s largest city. Affordable housing needs to be created for those who “are not investment bankers or cannabis entrepreneurs,” RioCan REIT chief executive officer Ed Sonshine said in an earnings call in October. More Creative Toronto meanwhile, needs to get more creative to broaden the types of housing available, said Florida, at University of Toronto.

Source: thestar November 26, 2018 13:18 UTC